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Ride-hail apps like Uber and Lyft generated 65 percent more rides than taxis did in New York in 2017

By recode

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  • Ian Myers
    Ian MyersFounder at Country House Enterprises

    New York has always been seen as one of the most difficult cities for ride-hailing firms to gain market share, especially Lyft and Uber (Via is built for this city).

    It's an eye-grabbing headline, but I'm still skeptical. This date most likely includes airport trips, in which case it makes total sense. In the heart of Manhattan? Not including Brooklyn and the Boroughs? Probably not such a dramatic defeat for taxis.

  • What’s a taxi? :) I feel bad for people in the taxi business but this was a very effective disruption in the industry and consumers really get a better service. I used to worry about how do I get a taxi? Now I just know I can click a button and magically be rescued.

  • Ernie Sander
    Ernie SanderDirector of Platform Community at Quartz

    I still remember the story I read last year that noted that some 40% of Chicago’s taxi fleet wasn't even operating in a particular month—and revenue was way off for the industry— because of the hit cabbies have taken from ride-sharing apps.

    Whether it's 65 percent or not in NYC, you only need to look around—at all the people waiting on street corners for their Ubers and Lyfts and Vias—to see that the damage is real. Prices of taxi medallions in the city, meanwhile, have dropped from about $1.3

    I still remember the story I read last year that noted that some 40% of Chicago’s taxi fleet wasn't even operating in a particular month—and revenue was way off for the industry— because of the hit cabbies have taken from ride-sharing apps.

    Whether it's 65 percent or not in NYC, you only need to look around—at all the people waiting on street corners for their Ubers and Lyfts and Vias—to see that the damage is real. Prices of taxi medallions in the city, meanwhile, have dropped from about $1.3 million to more like $300k, which gives you some sense of the shrunken business opportunity for taxi drivers these days.

  • Sumeet Shah
    Sumeet ShahBacking brands at Swiftarc Ventures

    The TLC has barely caught up with technological advances for their cabbies and it only now has a ride share program after Uber and Lyft have been dominating the market.

  • Ravi Shah
    Ravi ShahAnalyst at IA Capital Group

    Impressive stat, but not at all surprised: ride hauling apps continue to take away rides from taxis. Ride hauling apps now pick up more passengers in a month than taxi drivers ever did.

  • Fi Fi
    Fi Fi

    In my experiences living in NYC, taxis have been faster to get than Uber/Lyft and cheaper as well. I'll continue to use taxis.

  • Michael Vostok
    Michael Vostok1 at BOCTOK

    in 2013 i begged my friend not to buy a medallion...

  • Not surprising, but a significant milestone nonetheless. I would be curious to know if there has been any corresponding impact on public transportation use as well.

  • My taxi driver from JFK told me rides are down 30-40%. Partially because of declines in tourism and the rest due to rise sharing.

  • Rudy Quiñones
    Rudy Quiñones

    Proves people are not getting paid enough?

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